Establish Student Involvement as a Priority
Committee on Business Productivity Recommendation: Establish student involvement as a priority
The power of the final recommendation cannot be overstated.
Technology Commercialization Committee Response:
The University recognizes and agrees with this priority and has already moved to implement the recommendation. The University presently has a wide range of student-related activities that include both formal and informal student involvement. Below are examples of student entrepreneurship opportunities and offerings.
- The Technology Entrepreneurship Society (TES) focuses on identifying, cultivating, and supporting current and future entrepreneurs in the University technological community.
- The Longhorn Startup Lab introduces students to the world of startups though hands-on exposure and the experiences of individuals who have built successes and learned from failures.
- Texas Venture Labs (TVL) is a campus-wide initiative to accelerate the rate of startups by offering entrepreneurs an accelerated route in bringing their innovations to market.
- The Herb Kelleher Center for Entrepreneurship Growth and Renewal creates forums for successful entrepreneurs, students and faculty members, and introduces students to the dynamic world of new venture creation and sustainability.
- The Idea to Product (I2P®) Program refers to applying creative thought to a technology (“Idea”) and developing a market application (“Product”) for that technology. The program provides a range of pathways for innovation, including exposing University technologies to outside investors, aiding University technology spin-offs, and engaging students in the innovation and commercialization process.
- The University Entrepreneur's Association brings students interested in entrepreneurship together to share experiences and ideas and hosts corporate speakers to share their knowledge on entrepreneurship.
- The Longhorn Entrepreneurship Agency is an initiative of the Student Government to inform, connect, and support student entrepreneurs on campus.
- The Entrepreneurial Research Initiative (ERI) is founded on two important principles: students put forth their own ideas and then work with translational mentors from outside the University to develop these ideas.
- The Student Entrepreneur Acceleration and Launch (SEAL) program of the University’s Austin Technology Incubator provides an opportunity for student entrepreneur groups connected to the UT community to determine what milestones need to be reached for their business plans to succeed.
- The Scientific Entrepreneurial Society stimulates and supports CNS students’ culture of innovation, creativity and entrepreneurship by encouraging broad CNS student participation and stimulating interdisciplinary cross-campus involvement in entrepreneurial activities.
- The Portfolio in Arts and Cultural Management and Entrepreneurship is a certificate program that provides students with cross-disciplinary theoretical and practical training related to the management and governance of arts and cultural organizations, and/or the business dimensions of an entrepreneurial artistic career.
- The 3-Day Start-up program was conceived by and is operated by students. During the course of a semester student teams spend three days creating a technology-based company and showcase the company before a panel of investors on the evening of the third day. (The 3-Day Start-up program is operated by students and is now seperate from UT Austin)
- The Innovation, Creativity & Entrepreneurship Bridging Disciplines Program teaches students about the entrepreneurial process and the history of innovation through an interdisciplinary program that combines courses from Business, Communication, Fine Arts, and Liberal Arts.
Similarly, the University presently offers numerous formal internships and entrepreneurship courses in various colleges and schools as well as a master’s degree (MSTC) in technology commercialization. Illustrative courses bear titles such as those below (academic year 2012- 2013 catalog offerings):
- Longhorn Startup Lab (Interdisciplinary Entrepreneurship)
- Entrepreneurial Management
- Marketing for Entrepreneurs
- The Liberal Arts Entrepreneur
- Venture Capital Fellows Program
- Entrepreneurial Journalism
- Entrepreneurship & Incubation
- Opportunity Identify and Analysis
- Social Entrepreneurship
- Texas Venture Labs Practicum
- New Venture Creation I
- New Venture Creation II
- Entrepreneurial Growth
- Corporate Governance
- Entrepreneurs of Technology: Mind-Market
- Marketing High-Tech Products
To increase and facilitate student involvement in University-based commercialization and entrepreneurship activities, the Technology Commercialization Committee recommends that the Austin Technology Incubator, the Longhorn Startup Lab, and the Office of Technology Commercialization be located on or close to campus. These entities enable and encourage student engagement in commercialization and entrepreneurship activities, and having them in proximity to campus will increase student participation in these activities.